The Demand for Social Approval and Status as a Motivation to Give
The aim of this paper is to explain gift giving as due to a demand for social approval and status. In a simple framework we are able to account for a number of stylized facts. These are that gift giving is often reciprocal, that gifts tend to be inadequate, and that gift giving is sometimes reduced after a monetary compensation is offered. The implication for the interaction between gift giving and the market institution is that implementing price incentives in a nonmarket environment can be welfare-decreasing.
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Volume (Year): 158 (2002)
Issue (Month): 3 (September)
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IEW - Working Papers
004, Institute for Empirical Research in Economics - University of Zurich.
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- Fehr, Ernst & Schmidt, Klaus M., . "A theory of fairness, competition, and cooperation," Chapters in Economics, University of Munich, Department of Economics.
- Fehr, Ernst & Schmidt, Klaus M., 1999. "A theory of fairness, competition, and cooperation," Munich Reprints in Economics 20650, University of Munich, Department of Economics.
- Fehr, Ernst & Schmidt, Klaus M., 1998. "A Theory of Fairness, Competition and Cooperation," CEPR Discussion Papers 1812, C.E.P.R. Discussion Papers.
- Gachter, Simon & Fehr, Ernst, 1999. "Collective action as a social exchange," Journal of Economic Behavior & Organization, Elsevier, vol. 39(4), pages 341-369, July.
- George A. Akerlof, 1997. "Social Distance and Social Decisions," Econometrica, Econometric Society, vol. 65(5), pages 1005-1028, September.
- Goeree, Jacob K. & Holt, Charles A. & Laury, Susan K., 2002. "Private costs and public benefits: unraveling the effects of altruism and noisy behavior," Journal of Public Economics, Elsevier, vol. 83(2), pages 255-276, February.
- Kranich Laurence, 1994. "Gift Equilibria and Pareto Optimality Reconsidered," Journal of Economic Theory, Elsevier, vol. 64(1), pages 298-300, October.
- Samuel Bowles, 1998. "Endogenous Preferences: The Cultural Consequences of Markets and Other Economic Institutions," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 75-111, March.
- Axel Ockenfels & Gary E. Bolton, 2000. "ERC: A Theory of Equity, Reciprocity, and Competition," American Economic Review, American Economic Association, vol. 90(1), pages 166-193, March.
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